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EUR / USD pair: plan for the US session on November 15. The euro fell after the pound and weak data for the euro area
November 15, 2018 5:22 pmVideo
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To open long positions on EUR / USD pair, you need:
Buyers failed to get above the resistance of 1.1344, which was combined with the weak balance data and caused the euro to fall, which I paid attention to it in the morning forecast. As a result of the decline, the bulls returned only to the market in the support area of 1.1266 to which I also paid attention. A breakthrough with consolidation above the resistance of 1.1307 in the second half of the day will allow us to get to the upper boundary of the side channel at 1.1344, where today I recommend fixing the profit.
To open short positions on EUR / USD pair, you need:
The bears worked out the morning scenario, however, the main task for the second half of the day remains the breakdown of support 1.1266. This will happen only if good fundamental statistics on retail sales in the USA is released, which will strengthen the position of the US dollar and lead to a test of this week’s lows in the 1.1226 area, where I recommend taking profits. If EUR / USD rises in the second half of the day above resistance 1.1307, short positions can be returned to rebound from the upper limit of the side channel 1.1344.
Indicator signals:
Moving averages
Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.
Bollinger bands
The upward correction for the euro is still limited to the upper border of the Bollinger Bands indicator near 1.1345 but a repeated test of the lower border of the indicator in the area of 1.1288 may lead to an increase in pressure on the euro.
Description of indicators
MA (moving average) 50 days – yellow
MA (moving average) 30 days – green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
The material has been provided by InstaForex Company – www.instaforex.com
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